This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Whiting Petroleum Corporation Announces Third Quarter 2012 Financial And Operating Results

The Smith 34-1TFH was completed on September 26, 2012 flowing 1,480 BOE per day from a 7,530-foot lateral in the Three Forks. This well was drilled in the center of the Sanish field and was also fraced in 30 stages.

Our Bakken drilling in the Sanish field continues to yield exceptional results. The Kannianen 22-32XH was completed in the Middle Bakken flowing 3,462 BOE per day on September 6, 2012. The cross-unit well was drilled in the central portion of the field. The Pennington 21-3H was completed in the Middle Bakken on August 16, 2012 flowing 2,681 BOE per day. This well was drilled on the south-central side of the Sanish field.

Lewis & Clark/Pronghorn Prospects. Whiting’s net production from the Lewis & Clark/Pronghorn prospects averaged 12,190 BOE per day in the third quarter of 2012. This daily rate represents a 19% increase over the 10,275 BOE per day rate in the second quarter of 2012. We own 409,684 gross (268,077 net) acres in the Lewis & Clark/Pronghorn prospects. Consequently, we expect our drilling program at Lewis & Clark/Pronghorn to extend for many years.

Typifying our drilling results at Pronghorn was the completion of the Solberg 14-11PH, which flowed at an initial rate of 1,825 BOE per day from the Pronghorn Sand on September 17, 2012. The well’s 10,523-foot lateral was fraced in 30 stages. The Solberg well was drilled in the northwest portion of the prospect in Stark County, North Dakota.

Also of note were the completion results of two wells drilled off a pad. The Buckman 34-9PH flowed at an initial rate of 1,964 BOE per day while the Buckman 44-9PH was completed flowing 1,545 BOE per day. Whiting holds a 68% working interest and a 55% net revenue interest in both wells, which were each tested on September 29, 2012 and completed in the Pronghorn Sand.

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs